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Mixed quarterly performance for General Mills

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Miguel A. Rodriguez
Miguel A. Rodriguez
30 June 2021
The company impressed the market with its quarterly results

For the fiscal Q4 2021, General Mills posted an EPS of 91 cents, beating the consensus by 3 cents. The company's net sales increased 3% from the prior year to $18.1 billion. At the same time, General Mills operating profit increased 6% to $3.1 billion. The convenience stores and foodservice segment had one of the strong performances during the quarter. It reports sales of $493 million – a 25% increase from the same quarter last year. On the other hand, the pet segment declined 20% to $444 million.

General Mills CEO stated: "We competed effectively, generated strong top-and bottom-line growth, and further improved our balance sheet, allowing us to resume dividend growth and share repurchases. In addition, we advanced our Accelerate strategy by investing in our brands, strengthening our capabilities, building on our leading position as a force for good, and taking significant steps to reshape our portfolio and our organization for future growth."

For fiscal 2022, citing softer consumer demand, it expects its organic sales to decline 1% - 3%. The EPS is seen as having a flat growth to down 2%.

At the moment of writing, General Mills stock price is trading more than 1% higher.

Sources: cnbc.com, seekingalpha.com

This information/research prepared by Andreas Thalassinos does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.